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Greenberg scoffs at Bear liquidity crunch rumors

Posted Mar 10th 2008 4:34PM by Maura McCormackMaura McCormack RSS Feed
Filed under: Rumors, Bear Stearns Cos (BSC)

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On CNBC today, Alan "Ace" Greenberg scoffed at the notion that Bear Stearns (NYSE:BSC)was on the brink of a liquidity crisis. But the protestation wasn't enough to stem the fall of the stock price to $62.21, its lowest level since March 2003, according to Bloomberg.

Despite the denial, there were two negative developments: Bear's put options were unusually active on Monday, and the cost to insure Bear's debt against default climbed, according to Dealbook.

"Totally ridiculous" is Greenberg's assessment of the rumors, but someone's betting that it's not.

Tags: Ace Greenberg, AceGreenberg, Alan Greenberg, AlanGreenberg, Bear Stearns, BSC, inthenews

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Last updated: November 24, 2009: 02:12 PM

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